Re Record the following transactions on the books of St. Jacobs Hospital, a private not-for-profit hospital.

1. The Hospital billed patients $400,000 for services rendered. Of this amount, 2% expected to be uncollectible. Contractual adjustments with insurance companies are expected to total $42,000.
2. The Hospital received $240,000 in pledges of support in a campaign undertaken to purchase new MMR equipment. All of the pledges are payable within one year and 7% are expected to be uncollectible.
3. Charity care in the amount of $34,000 (at standard charges) was performed on an indigent patient.
4. The Hospital collected $237,600 for the services performed in (1) above. Actual contractual adjustments for these services amounted to $45,700. The remaining receivables were written off as uncollectible.